COPPER may extend correction as descending indicators show further room at the downside
Copper future contract extends pullback from new recovery high at $3.3200 on Wednesday, holding negative near-term tone and signaling the beginning of year 2018 in red.
Correction after strong rally in past three weeks when metal’s price…
Read More...
Read More...
Spot Gold – correction after strong three-week rally could be expected
Spot Gold price eases on Wednesday, taking a breather after strong rally in past over three weeks hit new high at $1321 (the highest since mid-September).
Recent strong rally was supported by weak dollar which came under pressure on…
Read More...
Read More...
WTI OIL – bulls eye Fibo targets at $60.97 and $61.62
WTI oil remains steady on Wednesday following strong rally in past three days which peaked at $60.72 on Tuesday.
Oil prices were boosted by recent situation in Iran and remain well supported by global efforts to tighten oil market by…
Read More...
Read More...
AUDUSD – bulls focus pivotal 0.7886/97 barriers after emerging above thick daily cloud
The Aussie dollar remains well supported and looks for extension strong rally in past three weeks.
Bulls pressure immediate barrier at 0.7859 (falling weekly 200SMA) which lies ahead of next pivotal resistances at 0.7886/0.7897 (Fibo 61.8%…
Read More...
Read More...
USDJPY consolidates above strong 112 support; near-term bias remains bearish
The pair is consolidating above important support at 112.00 (15 Dec low) on Tuesday after steep bearish acceleration in past three days found footstep here.
Support is reinforced by Fibo 61.8% of 110.83/113.74 rally and 100SMA and may hold…
Read More...
Read More...
GBPUSD – shallow correction likely to precede final push towards key 1.3655 barrier
Cable cracked psychological barrier at 1.3600 on Tuesday and hit new multi-month high at 1.3612 in extension of steep bullish acceleration in past four days.
Subsequent easing was so far shallow, however, overbought daily studies warn of…
Read More...
Read More...
EURUSD – bulls are taking a breather ahead of attack at 1.2092/1.2150 targets
The Euro eases on Wednesday, taking a breather after strong four-day rally which peaked at 1.2081 (the highest since early Sep 2017) on Tuesday.
Strong uptrend remains intact and underpinned by weak dollar, showing scope for eventual attack…
Read More...
Read More...
XAUUSD – bulls look for further advance on break above daily cloud top
Spot Gold hit new one-month high at $1293, in extension of steep rally from $1293 (12 Dec low).
Fresh US dollar’s sell-off on Thursday additionally boosted yellow metal’s strong bullish sentiment, with thinner volumes ahead of New Year…
Read More...
Read More...
WTI OIL consolidates under $60 barrier; bullish sentiment supportive for further advance
WTI oil maintains firm tone and holding within narrow consolidation under psychological $60 barrier (fresh highs in 2 ½ years) which was dented on strong bullish acceleration on Tuesday.
Oil price was boosted by stronger than expected draw…
Read More...
Read More...
AUDUSD – fresh bullish extension pressures daily cloud top at 0.7816
The Aussie dollar extended steep rally on Thursday and cracked psychological 0.7800 barrier, en-route to key resistance at 0.7816 (daily cloud top).
Broader greenback’s weakness keeps the Aussie supported, with bulls so far ignoring…
Read More...
Read More...